Israel-based stock brokerage platform eToro Group Ltd made a striking debut on the Nasdaq overnight, with its shares surging as much as 42% above the initial public offering (IPO) price after the upsized deal raised almost US$620 million. The Robinhood competitor's strong market entry reflects renewed investor optimism as the IPO market beings to experience a broader rebound, driven by easing US-China trade tensions and the recent Wall Street rally.
The trading platform's stock is on a run in its first day of trading, elevating hopes for other stock-market debuts.
Nasdaq stocks are set to power gains for Wall Street on Wednesday, buoyed by deals struck by the sector on Donald Trump's tech-led trade trip to the Middle East. Futures for the S&P 500 were up 0.1% and for the Dow Jones were flat, while those for the Nasdaq were up 0.3%.
Israel-based stock brokerage platform eToro said it has priced shares at $52 for its IPO, above its expected range of $46 to $50. The retail trading platform filed for an IPO in March, but as tariff uncertainty rattled markets, the company temporarily shelved ITS plans.
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US stocks dropped as the Nasdaq 100 and Palantir tumbled, with traders eyeing Fed policy signals and unresolved global trade negotiations.
Wall Street stocks have been tipped to extend their losses on Tuesday, as markets mull the start of the Federal Reserve meeting and digest another major auto manufacturer withdrawing guidance due to tariff risks and uncertainties. Ford Motor Company (NYSE:F) said overnight that it expected a $1.5 billion impact from tariffs in 2025 and pulled its financial guidance due to the associated uncertainty.
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Nasdaq jumps as Dexcom, Palantir, and ON Semi soar. Jobs report beats forecasts, easing inflation fears and driving US stock market optimism.
Apple and Amazon dropped after hours as weak Q2 forecasts rattled traders despite strong Q1 results. Tech stocks face pressure from tariffs and cloud risks.
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Technology stocks are anticipated to lead a Wall Street rally to start the month of May on Thursday, following earnings from Microsoft and Meta Platforms overnight and ahead of more from Apple and Amazon after the close. Futures markets are calling the Nasdaq 100 around 1.7% higher, ahead of the opening bell, with S&P 500 futures up 1.2% and those for the Dow Jones rising 0.8%.